Insolvency practitioners will have to provide upfront estimates of the cost of working on insolvency cases, under new rules announced today. New rules laid in parliament today will require insolvency practitioners to provide a summary of estimated costs, the work to be undertaken and, where an hourly rate is proposed, an estimate of the expected time. These estimates will act as a cap on fees because, once agreed, they can only be changed by agreement between the insolvency practitioner and creditors. The new measures, announced by business minister Jo Swinson, are designed to end the uncertainty of unlimited hourly charges for creditors......Read more here